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SEI Investments (SEIC) Buys Novus, Expands Investor Capabilities
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In an effort to broaden its capabilities for institutional investors and investment management clients, SEI Investments Company (SEIC - Free Report) has acquired a global portfolio intelligence platform company, Novus Partners.
Novus was founded in 2007. It has pioneered the development of portfolio intelligence capabilities and works with more than 140 clients, who manage more than $4 trillion in assets. Its platform streamlines data management, performance measurement, reporting, attribution and look-through analysis in a single digital tool.
With the addition of these data management and analytics capabilities to SEI's Enhanced Chief Investment Officer (CIO) Platform, SEI Investments will be better positioned to meet the needs of the markets it serves.
SEI's Enhanced CIO Platform currently supports investment teams. With the addition of Novus, SEI Investments aims to enhance its offerings by integrating Novus' global portfolio intelligence tool (SEI Novus) with its comprehensive investment intelligence and processing capabilities.
Notably, SEI Novus will continue to provide asset managers with advanced portfolio intelligence, analytics and reporting technology in a bid to improve their overall investment programs and to allow them to share data and intelligence with large institutional investors and asset owners.
SEI Investments' chairman and CEO, Alfred P. West, Jr., stated, "The financial services landscape is ever-evolving. Our markets continue to face an unprecedented pace of change, and we continuously seek opportunities to stay ahead of and manage this change. By making strategic investments in our solutions and workforce, we drive growth and help our clients make confident decisions for their futures."
Paul Klauder, the head of SEI's Institutional Group, commented, "We identified a significant need among larger institutional investors for an end-to-end solution that provides enriched data and analytics. We believe the combination of SEI Novus' front-end analytics capabilities with our extensive middle- and back-office investment processing capabilities and knowledge of institutional markets ultimately delivers that solution."
The CEO of Novus, Andrea Gentilini, said, "There is no better fit than SEI for Novus to accelerate its path. Like Novus, SEI has fintech roots and relationships with both asset owners and asset managers. Because SEI provides many of the crucial data that our clients rely on to consume analytics within Novus, we believe institutional investors will finally get the one-stop platform they've been craving."
Our Take
Technology is the backbone of SEI Investments' businesses. Its primary business platform — Investment Processing — delivers its outsourced software and processing services through TRUST 3000 and the SEI Wealth Platform. Constant innovations in software are expected to help SEI Investments win clients, thus, aiding top-line growth.
Over the past year, shares of SEI Investments have rallied 15.6% compared with 30.8% growth recorded by the industry.
Several companies from the finance sector are undertaking consolidation efforts to counter the low interest rate environment along with the heightened costs of investments in technology. Also, mergers help in diversifying revenues and products.
Recently, in a bid to expand its presence, OceanFirst Financial Corp. (OCFC - Free Report) entered an agreement with Partners Bancorp, which will merge into the former. Closing of the deal is expected in the first half of 2022, subject to the receipt of required regulatory approvals, the receipt of approval from Partners Bancorp shareholders and the fulfillment of other customary closing conditions.
OceanFirst expects the merger to result in earnings per share accretion of 10% in 2023 (the first full year of fully phased-in synergies).
Likewise, last month, with an aim to further diversify deposit gathering capabilities and revenue mix, Raymond James (RJF - Free Report) announced a cash-cum-stock deal to acquire TriState Capital Holdings, Inc. for roughly $1.1 billion.
Supported by a digital lending platform and a solid risk management technology system, TriState Capital provides securities-based loans to high-net-worth borrowers across the United States. Following the deal closure, Raymond James' SBL balance is likely to be approximately 33% of net loans (on a pro-forma basis).
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SEI Investments (SEIC) Buys Novus, Expands Investor Capabilities
In an effort to broaden its capabilities for institutional investors and investment management clients, SEI Investments Company (SEIC - Free Report) has acquired a global portfolio intelligence platform company, Novus Partners.
Novus was founded in 2007. It has pioneered the development of portfolio intelligence capabilities and works with more than 140 clients, who manage more than $4 trillion in assets. Its platform streamlines data management, performance measurement, reporting, attribution and look-through analysis in a single digital tool.
With the addition of these data management and analytics capabilities to SEI's Enhanced Chief Investment Officer (CIO) Platform, SEI Investments will be better positioned to meet the needs of the markets it serves.
SEI's Enhanced CIO Platform currently supports investment teams. With the addition of Novus, SEI Investments aims to enhance its offerings by integrating Novus' global portfolio intelligence tool (SEI Novus) with its comprehensive investment intelligence and processing capabilities.
Notably, SEI Novus will continue to provide asset managers with advanced portfolio intelligence, analytics and reporting technology in a bid to improve their overall investment programs and to allow them to share data and intelligence with large institutional investors and asset owners.
SEI Investments' chairman and CEO, Alfred P. West, Jr., stated, "The financial services landscape is ever-evolving. Our markets continue to face an unprecedented pace of change, and we continuously seek opportunities to stay ahead of and manage this change. By making strategic investments in our solutions and workforce, we drive growth and help our clients make confident decisions for their futures."
Paul Klauder, the head of SEI's Institutional Group, commented, "We identified a significant need among larger institutional investors for an end-to-end solution that provides enriched data and analytics. We believe the combination of SEI Novus' front-end analytics capabilities with our extensive middle- and back-office investment processing capabilities and knowledge of institutional markets ultimately delivers that solution."
The CEO of Novus, Andrea Gentilini, said, "There is no better fit than SEI for Novus to accelerate its path. Like Novus, SEI has fintech roots and relationships with both asset owners and asset managers. Because SEI provides many of the crucial data that our clients rely on to consume analytics within Novus, we believe institutional investors will finally get the one-stop platform they've been craving."
Our Take
Technology is the backbone of SEI Investments' businesses. Its primary business platform — Investment Processing — delivers its outsourced software and processing services through TRUST 3000 and the SEI Wealth Platform. Constant innovations in software are expected to help SEI Investments win clients, thus, aiding top-line growth.
Over the past year, shares of SEI Investments have rallied 15.6% compared with 30.8% growth recorded by the industry.
Currently, SEI Investments carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Competitive Landscape
Several companies from the finance sector are undertaking consolidation efforts to counter the low interest rate environment along with the heightened costs of investments in technology. Also, mergers help in diversifying revenues and products.
Recently, in a bid to expand its presence, OceanFirst Financial Corp. (OCFC - Free Report) entered an agreement with Partners Bancorp, which will merge into the former. Closing of the deal is expected in the first half of 2022, subject to the receipt of required regulatory approvals, the receipt of approval from Partners Bancorp shareholders and the fulfillment of other customary closing conditions.
OceanFirst expects the merger to result in earnings per share accretion of 10% in 2023 (the first full year of fully phased-in synergies).
Likewise, last month, with an aim to further diversify deposit gathering capabilities and revenue mix, Raymond James (RJF - Free Report) announced a cash-cum-stock deal to acquire TriState Capital Holdings, Inc. for roughly $1.1 billion.
Supported by a digital lending platform and a solid risk management technology system, TriState Capital provides securities-based loans to high-net-worth borrowers across the United States. Following the deal closure, Raymond James' SBL balance is likely to be approximately 33% of net loans (on a pro-forma basis).